World Bank commits support to Zambia amid drought crisis
In the face of the severe drought gripping Zambia, the World Bank has pledged its commitment to mobilize resources to assist affected communities.
World Bank
Zimbabwe claims loss of $150 billion due to sanctions
Zimbabwe's Vice President, Constantino Chiwenga, has declared that the nation has lost a potential economic gain of $150 billion over the past two decades due to Western-imposed sanctions.
World Bank appoints Eneida Fernandes as new Country Manager for Zimbabwe
The World Bank Group has announced the appointment of Ms. Eneida Fernandes as the new Country Manager for Zimbabwe, effective October 2023.
EU pledges €113m for Kariba Dam rehab to increase Zimbabwe’s electricity
The European Union (EU) has announced a significant financial contribution of €113 million (approximately US$120 million) to support the rehabilitation of the Kariba Dam in Zimbabwe.
Western nations vow to deal with Russia for Ukraine invasion
Western allies on Wednesday promised to make Russia pay for its invasion of Ukraine, as governments and private investors met to fund the country's reconstruction from the ravages of war.
Zimbabwe offers white farmers new terms for its $3.5 billion contract
Zimbabwe has proposed to settle a US$3.5 bn land compensation deal over 10 years as the most recent modification to an agreement made in 2020 with former white farmers who were evicted from properties more than 20 years ago.
World Bank appoints Belete country director in four nations
The World Bank (WB) Group has appointed Nathan Belete as the new country director for Zimbabwe, Malawi, Tanzania, and Zambia, where he will be in charge of a portfolio totalling around US$12bn in commitments for the four nations.
Truss fires finance minister Kwasi Kwarteng due to UK economic crisis
British Prime Minister Liz Truss sacked her finance minister on Friday, forcing Kwasi Kwarteng to take the blame for the turmoil caused by her right-wing economic platform as unruly Tories plotted her downfall.
Niger starts to build Africa’s longest oil pipeline
Africa's longest pipeline is being built near Gaya in southwestern Niger, near the border with Benin by Chinese and Nigerien engineers.
Mozambique secures $300m World Bank grant after debt scandal
The World Bank on Monday signed a $300 million grant to Mozambique, returning to the country six years after aid was suspended due to a hidden debt scandal.
